CONSOB adopts the new Markets Regulation
[Newsflash n. 40] On 29 December 2017, Consob adopted the new Markets Regulation implementing the regulatory changes introduced by MiFID II and MiFIR. The new Regulation replaces the current version and: Repeals some pre-existing [...]
PRIIPs: CONSOB guidelines on ex ante notification of KID
[Newsflash n. 39] On 22 December 2017, CONSOB published ad-hoc guidelines establishing the methods of reporting KIDs for PRIIPS marketed in Italy. According to Article 5(2) of EU Regulation 1286/2014 “any Member State may [...]
MIFID II – Inducements: update to Q&A
[Newsflash n. 38] On 10 November 2017, Esma published an update to its Q&A on MiFID II and MiFIR investor protection and intermediaries topics. The update concerns, inter alia, the following clarifications on inducements. Section [...]
Initial Coin Offerings (ICOs): warning for investors and firms
The European Securities and Markets Authority (ESMA) has today issued two Statements on Initial Coin Offerings (ICOs), one on risks of ICOs for investors and one on the rules applicable to firms involved in ICOs. ESMA has observed a [...]
AIM Italia: amendments to listing rules
[Newsflash n. 37] On 3 November 2017, Borsa Italiana published certain amendments to the Rules of AIM Italia market that will enter into force on 3 January 2018, in order to improve the efficiency [...]
The EU Commission and SEC issue measures to facilitate cross-border implementation of MiFID II requirements on investment research
[Newsletter n. 10] On 27 October 2017, the European Commission issued a guidance in the form of Frequently Asked Questions (“FAQ”), aimed at clarifying certain concerns raised by the analyst research industry in connection [...]